Everything you need to know about BronzeMarkets
With all the different brokers that you can choose from, there are some traders that are making the mistake to use the wrong brokers. Brokers that aren’t recommended and that aren’t even legit. This is why you should make sure that you are using the right brokers when you want to start trading.
BronzeMarkets is a broker service that you can use for trading. However, the question that you need to ask is if they are legit and if they are recommended. With this review, you will get all the necessary information about BronzeMarkets to show you that they aren’t to be trusted.
BronzeMarkets are known as forex and CFD brokers. They are offering some cryptocurrencies that you can trade with. Making this a great opportunity for CFD traders.
They are situated in Austria. They are giving an address, telephone number and an email address. It seems legit at the moment. The thing that is worrying us is the fact that there is a lack of other company information. Essential information that you need to know before you can start using brokers.
Registered and regulated information
This is the first sign that something isn’t right with BronzeMarkets. They aren’t registered as international brokers. And, therefore they aren’t regulated as well. The thing that is bothering us the most is the fact that they are claiming to be regulated.
To be regulated, you need to be registered at one of the top companies for brokers. And, with further investigation, it seems that they aren’t registered at any one of them. Meaning that they are lying about being regulated. The thing that is bothering us, is the fact that they are lying. What else are they lying about?
Account options and minimum required a deposit
BronzeMarkets are offering different accounts to traders. There are 5 accounts in total. You can choose between the Basic, standard, silver, gold and platinum account. This is a great option for traders to get a selection of accounts to choose from.
With the minimum required deposit for each account, we found a serious problem. The amount is extremely high. The first, basic account has a minimum required deposit of $500 and the platinum account has a minimum required a deposit of $25,000. There are more trustworthy brokers that are offering better and cheaper accounts and required deposits. And, with all the other negative things about BronzeMarkets, you are at higher risk of losing all your money.
A platform that they are using
At first glance, we found that they are using MT5 as their platform. This is a great option because MT4 and MT5 are the top platforms that you can use. This let us think that this might be a great benefit of using BronzeMarkets.
However, they are using MT5 through a third-party. Meaning that they didn’t purchase the platform in the right place. They are using it “secondhand” and this means that they don’t use it legally. A really important thing to consider.
Related to shady brokers
Something else that we found serious, is the fact that they are related to other shady brokers. Meaning that these brokers can be run by the same people that are running other brokers. And, you will see that all the other broker services aren’t legit either.
This is a problem because this means that they are trying to get as many people scammed as possible. The moment that brokers are connected with other, shady brokers, this is a sign that you should stay away.
Trading terms and conditions dodgy
Because they aren’t registered and regulated, they can choose their own terms and conditions. And, to make things worse, they can’ change the terms and conditions without any prior notice. Putting your account and your money always at risk.
When reading their terms and conditions we found one serious problem. It isn’t standard and there is some information about withdrawing that is a big warning to us. You need to read their terms and conditions carefully before you decide that this is brokers that you can use. There is a huge difference when reading and comparing it to the recommended brokers.
Regulators warn about using BronzeMarkets
Now, the most important thing about BronzeMarkets to know. What are regulators saying about them? And, are there any warnings about them that you need to know?
You need to know that there are warnings published about using BronzeMarkets by regulators. Simply because they aren’t registered, regulated and lying about being regulated. It is essential that you should take the warnings from regulators seriously.
When it comes to BronzeMarkets, we didn’t find many great things about it. There are too many irregularities that you need to know about. If you are looking for brokers to trade with, we don’t recommend BronzeMarkets at all. There are some other, much better and recommended brokers out there, that you can use for trading successfully.